Museum Store Association Retail Industry Report, 2014 Edition

"It will be your best friend' for your business - you can't grow if you don't know!"--Blue Anderson, Columbia Maritime Museum"I have used the Retail Industry Report many times over the years. It is an important tool for our industry. I've used it to write business plans, make an expansion/remodel case, justify budget lines, and more."--Susan DeLand, Susan C. DeLand Consulting

• Introduction Introduction and Methodology Response Rate and Statistical Reliability Descriptive Statistics Best Practices and Marketing Tips Overall Findings: All Stores Membership MSA Membership Store/Institution Profile Museum Type Regions/Chapters Gross Store Sales Population and Attendance Types of Visitors Admission to Museum/Institution and Store Renovations to Museum/Institution and Store Store Sales Figures Store Size Visitors per Square Foot Number of Transactions Net Sales and Gross Margin Inventory Months, Days, Hours of Operation Top Selling Items (In-store Sales) Web Site Sales Top Selling Items (Web Site Sales) Mail Order Catalog Limited Engagement or Traveling Exhibits Wholesale Sales Revenue Change in Types of Gross Retail Sales Store Discounts and Museum Memberships Operating Expenses as Part of Net Profit Store Staff Employees Volunteers Store Staff Positions Salary Comparison for Fulltime Employees Benefits for Fulltime Employees Merchandising and Marketing Efforts Sales Goals Point of Sale (POS) System Marketing and Promotional Budget Marketing Methods Used Vendors and Number of Items Available for Sale Best Practices Strategies Used to Help Increase Sales Strategies Used to Help Increase Profits Obstacles to Sales and Profits Summary Statistics All Stores Museum Type Chapter/Region Store Size Number of Months in Operation Number of Hours of Operation per Week Percent Discount Received by Selected Store Customers Selected Policies and Procedures Population and Attendance Net Sales, Cost of Goods and Gross Margin Net Sales to Inventory Inventory Turnover Store Size and Annual Visitors Net Sales to Number of Transactions Gross Margin per Square Foot, Visitor and Transaction Employees and Volunteers Compensation for Full-Time Employees Benefits for Full-Time Employees Summary Statistics: Gross Sales Less Than $35,000 Summary Statistics: Gross Sales $35,000- $89,999 Summary Statistics: Gross Sales $90,000- $199,999 Summary Statistics: Gross Sales $200,000- $499,999 Summary Statistics: Gross Sales $500,000 and Above Appendix A: Glossary of Terms and Formulas Appendix B: Survey Instrument Appendix C: Categories Used to Define Best Practices Appendix D: Unedited Verbatim Responses to Open Ended Questions